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Accounts that pay interest at maturity

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  • Albermarle
    Albermarle Posts: 32,776
    Eighth Anniversary 10,000 Posts Name Dropper
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    Apollo22 said:
    I am a self assessor and having the tax at maturity makes more sense for me, as it impacts the tax I am liable to as I expect to be retired by then
    When you do your self assessment, just put zero interest earned ( until the maturity year of course). There is some comments in other threads that HMRC will use that figure rather than what is reported by the providers. Not guaranteed of course.
    Note that the providers do not usually supply any figures to HMRC until June onwards, so if you do the SA in say May you might get ahead of the game.
  • fuzzzzy
    fuzzzzy Posts: 445
    Sixth Anniversary 100 Posts Name Dropper
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    You could also note the account number and state what tax year the interest becomes accessible in the 'any other info' box on the self assessment form.
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